The Ugly Truth About Spending $70k on Facebook and Instagram Ads
It was my first year in the online space, and I had no idea what I was doing.Mindlessly spending money on ads, learning how to market myself, and reading every book on advertising.
Often, we hear success stories about people reaching the 2CC award within four months… and it used to drive me crazy. Usually, they make it sound as if they’ve been in the business world for a few months… when actually they’ve been in it for years.
The marketing skills I developed in a few months improved, but it became repetitive. I wanted to change and reach bigger levels of success.
I’ve always abided by a quote that Grant Cardone always says…
“We are spending $1M a month on ads. I can’t wait to spend $10M/mo”.
I knew that I had to double down on spending money on ads and marketing if I wanted to build a strong online brand.
So that’s exactly what I did.
Now I want to share with you the experience I had after spending $70k on Facebook/IG ads (even though it’s still a small amount of money.)
The Ugly Part About FB/IG Ads:
1. You can rack up debt quickly if you don’t know what you are doing.
Often, people juggle their money into ad campaigns without even knowing what they’re doing.
You should learn everything you can about advertising if you want to avoid burning out your entire budget.
2. If you don’t like tracking numbers, you can get yourself into big trouble.
My background is in numbers, so tracking KPI’s and data is normal for me.
It’s the bread and butter to your ROAS.
If you wish to start spending money on ads, you need to track your numbers.
3. You have to be good at two things — mixing good creatives (videos/photos) & great copy.
Ad returns don’t come off as luck…
Great copy and creatives are essential.
This will capture their attention while they read your message.
Positive Part About FB/IG Ads:
1. You can 5X… 10X… and even 50X your business.
Clearly, business is all about making more money, changing more lives, and reaching a wider audience….
Advertising can accomplish that and more for your business.
2. You get direct feedback from the market
Simply put it like this, if your offer ‘sucks’ — the market will tell you.
If you aren’t getting any traction from your ads — the market will tell you.
The market is the answer to all of your burning questions…
That’s why ads are so beneficial.
3. Using ads, you consistently hit MASSIVE numbers
Despite organic marketing’s importance, the algorithm causes it to be inconsistent.
Therefore, if you’re looking to reach new levels and 10X your MRR in your business…
Ads are crucial!
So there you have it.
The positive and the negative.
With the new iOS update, there are many people who believe ads are useless and more expensive than ever…
But I believe that if you find a way to become better at what you do, the new IOS update won’t impact your business.
The right ad will boost your business (no matter what year you put it out).
Overall, I’m a big fan of advertisements, but only when they have the right foundation.
To find out how our Hybrid Interception Model — which combines paid ads and organic marketing — can help you grow your coaching business past $30K/month — simply click here.
Btw, you can learn exactly what the ‘Hybrid Interception Model’ is down here…